2006/05/25

Lay and Skilling Are Done - Crime and Punishment Update

Lay -- Guilty on all counts. Skilling -- Convicted of conspiracy to commit securities and wire fraud.

It won't bring back the millions that were bilked from Enron's employees, but it's still SWEET!

UPDATED 12:08pm PDT

On second thought...why can't we bring back those millions? Though I'd like to see Lay rot in jail, it won't make him feel one shred of remorse, won't bring him low they way he deserves, but I've got a deal to offer. These two claim their assets are now down to the 20's to 50's of millions, but I don't buy it. So let's say it's double that if we liquidated everything.

So here's the deal: In return for avoiding jail, Lay and Skilling agree to liquidate all, and I mean all, of their assets, and the proceeds are then turned over to the retirement fund for former Enron employees (already funded with $68M)--probably bring the fund up to $150M.

Would that be enough? Probably not. Enron had over 10,000 employees, right? But with appreciation over the long term it would sure as sh*t be better than letting those assets stay in the Lay and Skilling families. And please don't berate me lines like "...it's not fair to their wives and children." Tough! The spouses can go back to work. The children can work their way through public college, just like all of the rest of us. Let them cry, "Daddy squandered my inheritance," that will do more to punish Lay and Skilling than jail time ever could.

12 Comments:

Wheee!
At least there is some justice in this world!
I won't shed a tear for them. They got exactly what they deserved.
I haven't looked closely at the verdict, but it looks as if Skilling was acquitted on at least some of the counts. Strange...

That said, I hope Lay rots in prison. Or alternatively, under the guise of creative punishment: I would let them both avoid prison entirely, if they personally funded a pension plan for their former Enron employees that provided say...80%...of what those employees could have expected from the defunct plan.
Skilling was acquitted on at least some of the counts. Strange...
Not to worry, looks like they could put him away for a couple of hundred years on the convictions.
Fuck Justice Sunday...this is Justice Thursday
"...it's not fair to their wives and children."

That is exactly what I was thinking! The think is is that I meant it as a sad commentary on the hipocracty and soft-belliedness that permates the American society.

Make people accountable. I think they should go to jail, AND have their assets liquidated. His wife can go on welfare, or GASP, get a job! Just like all the wives and husbands of people who lost everything in the scandal.
I never thought it would actually happen.
This is excellent news. I like the ideas here: liquidate all their assets and use the money to pay their victims, AND send the 2 bastards to jail.
By the way, if you want to know what W thinks of his pal getting the conviction....just read the text from Tony the Snow-job's press briefing today. Or pop over to my location.

What's the odds W gives his pal Kenny boy the official pardon?
Tom, welcome. Guess maybe now is not the time for charity, but if Lay would agree to impoverish himself, I'd still like to cut him a break.

WS...is this going to make me depressed?
They should be burned at the stake... after they have given ALL of the money back. I'm with their homes being sold and everything in it...including her jewels etc. Left completely penniless.

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